Fisker (NYSE:FSR) Trading Down 28.2%

Fisker Inc. (NYSE:FSR) shares traded down 28.2% on Wednesday . The company traded as low as $0.09 and last traded at $0.09. 62,229,286 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 167,012,320 shares. The stock had previously closed at $0.12.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Evercore ISI restated an “in-line” rating and set a $2.00 price objective (down from $6.00) on shares of Fisker in a report on Monday, December 4th. The Goldman Sachs Group cut their price objective on Fisker from $2.00 to $1.00 and set a “sell” rating on the stock in a report on Monday, December 4th. TD Cowen downgraded shares of Fisker from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $11.00 to $1.00 in a research report on Wednesday, January 17th. Citigroup reaffirmed a “neutral” rating and set a $0.80 price target (down from $4.00) on shares of Fisker in a research report on Friday, March 1st. Finally, R. F. Lafferty reissued a “hold” rating and issued a $2.00 price objective (down previously from $3.00) on shares of Fisker in a research report on Friday, March 1st. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fisker presently has a consensus rating of “Hold” and an average price target of $2.76.

Fisker Price Performance

The company has a market cap of $31.43 million, a PE ratio of -0.04 and a beta of 0.71. The business’s 50 day moving average price is $0.55 and its 200-day moving average price is $2.53. The company has a quick ratio of 1.05, a current ratio of 1.68 and a debt-to-equity ratio of 3.28.

Fisker (NYSE:FSR) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.19). The firm had revenue of $200.07 million for the quarter, compared to analysts’ expectations of $332.66 million. Fisker had a negative return on equity of 110.93% and a negative net margin of 278.72%. As a group, analysts forecast that Fisker Inc. will post -0.43 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. FIFTHDELTA Ltd increased its holdings in Fisker by 140.5% during the 4th quarter. FIFTHDELTA Ltd now owns 19,311,697 shares of the company’s stock worth $33,795,000 after purchasing an additional 11,281,121 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Fisker in the third quarter worth $31,924,000. BlackRock Inc. raised its holdings in Fisker by 15.1% in the second quarter. BlackRock Inc. now owns 14,254,129 shares of the company’s stock valued at $80,393,000 after acquiring an additional 1,864,634 shares in the last quarter. Vanguard Group Inc. boosted its stake in Fisker by 4.9% during the 4th quarter. Vanguard Group Inc. now owns 19,856,791 shares of the company’s stock valued at $34,749,000 after acquiring an additional 918,802 shares during the last quarter. Finally, Alps Advisors Inc. acquired a new position in Fisker during the 3rd quarter worth $5,367,000. Institutional investors and hedge funds own 33.58% of the company’s stock.

Fisker Company Profile

Fisker Inc develops, manufactures, markets, leases, or sells electric vehicles. It operates through three segments: The White Space, The Value Segment, and The Conservative Premium segments. The company is also involved in asset-light automotive business. In addition, it offers fisker flexible platform agnostic design, a process that develops and designs electric vehicles in specific segment size.